[RFC] Telos L1 Application for Canonical Uniswap V3 Deployment

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Proposal Summary

This proposal seeks to establish a canonical deployment of Uniswap V3 on the Telos blockchain. The Uniswap V3 contracts have been successfully deployed on Telos, and no further actions are required from the DAO at this time.

Proposal Stakeholders:

Proposer: Telos Foundation

Deployer: GFX Labs

Bridge Provider: Wormhole

Target Chain: Telos EVM

Proposal Sponsor: N/A

About Telos Blockchain

Telos is a decentralized, high-performance blockchain launched in 2018, advancing real-world applications with fast, scalable, and affordable transactions. Along with an EVM launched in 2021, Telos is also launching a hardware-accelerated zkEVM and a proof aggregator to enhance and scale Zero-Knowledge Proofs, driving the future adoption of blockchain technology.

Key Highlights:

  • Telos EVM: Telos boasts one of the fastest Ethereum Virtual Machines (EVM) in the industry, enabling rapid and cost-effective transactions for Ethereum-compatible dApps.
  • Scalability: The network is engineered to handle a high volume of transactions, making it suitable for applications requiring speed and efficiency.
  • High Transaction Throughput: Telos supports up to 15,000 transactions per second (TPS), ensuring seamless dApp operations.
  • Flat Gas Fee Model: Unlike traditional networks, Telos offers a predictable and low-cost transaction fee model, enhancing user experience.
  • No Front-Running or Sandwich Attacks: Telos prevents front-running and sandwich attacks by design, making it a fair and secure platform for DeFi users.
  • Historical Recognition: Telos gained recognition for identifying and reporting a prominent bug in Geth, demonstrating its commitment to security and innovation.
  • LayerZero Bridge: Telos has integrated with LayerZero, allowing seamless asset transfers across multiple blockchain networks, fostering greater interoperability and cross-chain liquidity.

Recent Developments:

  • SNARKtor Protocol: Telos is developing the SNARKtor protocol, designed to aggregate multiple transaction proofs into a single proof, thereby enhancing efficiency and scalability.
  • zkEVM Layer 2 Solution: The upcoming hardware-accelerated zkEVM Layer 2 aims to provide massive scalability and enhanced data protection, supporting trustless interoperability and regulatory compliance.

Telos Statistics: (as of 2025-02-06)

  • Market Capitalization: Approximately $48.26 million.
  • 24-Hour Trading Volume: Around $13.36 million.
  • Circulating Supply: Approximately 375.57 million TLOS tokens.
  • Total Supply: 420 million TLOS tokens.
  • Staking Participation: Approximately 41.98% of eligible tokens are currently staked, with an estimated annual reward rate of ~6%.

DeFi Statistics:

As of now, Telos has a Total Value Locked (TVL) of approximately $21.44m, with Meridian being a notable DeFi protocol on the network.

Deployment Details

As is the case with all canonical v3 deployments, this deployment will be subject to Ethereum Layer 1 Uniswap Protocol governance and control. The text record of the uniswap.eth ENS subdomain titled v3-deployments.uniswap.eth will be amended by the Accountability Committee to include the reference to the stated v3 contracts.

Contract Addresses:

Timeline

The Uniswap V3 deployment on Telos is complete, and the platform is ready for immediate use by the community.

By integrating Uniswap V3 with Telos, we aim to leverage Telos’s high-performance infrastructure to enhance the DeFi ecosystem, offering users faster transactions and lower fees.

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This proposal has successfully completed the 7-day optimistic approval period, canonicalizing the associated contracts as the official v3 deployment on Telos. The UAC will update the v3-deployments.uniswap.eth registry to reflect this addition.